The Honduras Revenue and Administrative Services has proposed imposing Value Added Tax on non-resident providers of digital or electronic services. No date for the implementation has been indicated, but end 2021 or start of 2022 seems most likely. VAT Calc’s global VAT and GST on digital
Israel’s Tax Authority is proposing to introduce electronic VAT invoicing. There would be an invoice threshold of NIS 5,000 (approx €1,300 or USD 1,600). This would apply to all B2B transactions about the invoice threshold. The Tax Authority estimated only 15% of invoices pass this
As the Brexit transition period comes to an end on 31 December 2020, the UK’s financial services sector has been granted a VAT boost. The Chancellor, Rishi Sunak, has confirmed that input VAT incurred on banking or insurance services as export services will be deductible.
Non-resident sellers and marketplaces now liable to Goods and Services Tax obligations on B2C electronic services The city-state of Singapore introduced its Goods and Services Tax (GST) on non-resident providers and electronic marketplaces of digital or electronic services on 1 January 2020. This applies to
VAT subsidy for tourism and hotel sectors Austria has extended its COVID-19 reduced VAT rates on hospitality and hotels until 31 December 2021. The reduction were introduced on 1 July 2020 and was due to expire on 31 December 2020. The reduced rate cuts are
‘Online information database access and retrieval’ OIDAR services liable to GST when provided by non-resident provider Non-resident providers of digital or electronic services to Indian consumers become liable to its Integrated Goods and Services Tax (‘IGST’ or ‘GST) from 1 July 2017. There is a
From 1 July 2021, the new 2021 EU VAT e-commerce package will come into effect. This simplifies distance selling VAT compliance, imposes sales VAT on imports not exceeding €150 and imposes VAT collections obligations on marketplaces for some of their sellers’ transactions. E-commerce package obstacles
With the end of the Brexit transition period looming on 31 December 2020, it is important the UK and EU business prepare for the new border tax and declarations requirements. To complete declarations and tariff calculations, you will need to be able to identify commodity codes
Ahead of the first wave of businesses being mandated for e-invoicing on B2B GST invoices from 1 October 2020, India has increased the registration threshold to reduce the numbers of businesses having to comply. Indian GST was introduced in 2017. The new electronic invoicing regime
Czech has again postponed the rollout of the VAT domestic reverse charge for all B2B transactions. The Czech Republic lead the campaign of member states seeking to give the greenlight on the use of the reverse charge on domestic goods. This took over five years,
